Jennifer Lopez and Alex Rodriguez officially called off their two-year engagement, saying in a statement Thursday that they “realized we are better as friends.”

“We will continue to work together and support each other on our shared businesses and projects,” Lopez and Rodriguez said in a joint statement to NBC’s “TODAY” show. “We wish the best for each other and one another’s children. Out of respect for them, the only other comment we have to say is thank you to everyone who has sent kind words and support.”

Lopez is the mother of 13-year-old twins Max and Emme, whom she shares with her ex-husband Marc Anthony. Rodriguez has two children, Ella (12) and Natasha (16).

Lopez and Rodriguez began dating in 2017 and declared their engagement while on vacation in the Bahamas in March 2019. They had to reschedule their wedding twice due to the coronavirus pandemic.